Star Bulk announces the sale of M/V Star Julia for demolition
Star Bulk Carriers Corp., a global shipping company providing transportat ion solutions in the dry bulk se ctor, today announced that it has entered into a binding agreement to sell for demolition the M/V Star Julia , a 70 , 100 dwt Panamax vessel, built in 1994, to an unaffiliated third party , at a profit over net book value. The Company expects to deliver the Vessel to the Buyers by early February 2015 . Star Julia was acquired from Excel Maritime Carriers Ltd under an “en bloc” transaction of 34 vessels on August 19, 2014 . This transaction is in line with the Company’s strategy to opportunistically divest assets that do not fit the profile of its fleet and further solidify its balance sheet .
About Star Bulk
Star Bulk is a global shipping company providing worldwide seaborne transportation solutions in the dry bulk sector. Star Bulk’s vessels transport major bulks, which include iron ore, coal and grain and minor bulks which include bauxite, fertilizers and steel products. Star Bulk was incorporated in the Marshall Islands on December 13, 2006 and maintains executive offices in Athens, Greece. Its common stock trades on the Nasdaq Global Select Market under the symbol "SBLK”. On a fully delivered basis, Star Bulk will have a fleet of 10 1 vessels, with an aggregate capacity of 11.7 million dwt, consisting of Newcastlemax , Capesize, Kamsarmax, Panamax, Post - Panamax, Ultramax, Supramax and Handymax vessels with carrying capacities between 45,590 dwt and 209,000 dwt.